News Round Up: June 1, 2021

Top Story: Oklahoma Gov. Kevin Stitt (R) signed a budget package last week that will restore the state Earned Income Tax Credit’s (EITC) refundability. (Oklahoma Policy Institute)

  • A new report from the Center on Budget and Policy Priorities (CBPP) showed that programs that provide income support, including refundable tax credits such as the Child Tax Credit (CTC) and EITC, significantly contribute to better health outcomes for children. (CBPP)
  • The Institute on Taxation and Economic Policy (ITEP) and CBPP released statements lauding President Joe Biden’s 2022 budget proposal, which includes expanding the EITC and extending the current CTC expansion. (ITEP and CBPP)
  • A new report from the Brookings Institution evaluated the current system of tax credits designed to support families with children, proposing methods to simplify the credits and better target support to middle and lower-income families. (Brookings)
  • While state budget negotiations continue, advocates emphasized that a proposed expansion to Connecticut’s EITC would primarily benefit workers who maintained essential services during the COVID-19 pandemic. (CT Mirror)